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In this episode, we explore the intersection of education and finance with guest Michele Cho-Dorado, a pediatric gastroenterologist. As physicians, we often prioritize academic excellence and lifelong learning, but one critical aspect of education that is often …
What guides and directs your decisions in your private practice? As the physician owner, it should be your choices and decisions, made without influence from third parties. That is physician autonomy.
In 2012, an article by E. J. Emmanuel and S.D. Pearson defined physician autonomy as “the freedom to determine both the conditions of practice and the care delivered with the principal goal that care decisions are aimed at promoting the …
The 7 Habits of Highly Effective People is a best-selling self-help book written by Stephen R. Covey. The book outlines universal principles that can be applied to personal and professional success. This article explores how health care professionals can use these principles to improve patient care, collaboration, and effectiveness.
1. Be proactive. Health care professionals must be proactive in staying up-to-date with the …
How big is my ego? The trouble with a career in medicine is that you spend four years in a classroom and not managing people. It is impossible to gauge the size of your ego if you don’t have a stack of small unit leadership situations with which to calibrate it. The most needed quality as a physician leader (or any leader) is humility. Athletes and prior military folks tend …
It is staggering to think that our medical school scholars have fallen in line with the dictatorial components of the “deep state of medical education.” John Abramson, MD, a graduate scholar of Harvard, Dartmouth, and Brown medical education institutions, recently published in “Imprimis,” a publication of Hillsdale College, eloquently and astutely links the disintegration and decreasing quality of health care in our nation to the “medical-industrial complex,” let alone, the …
The medical field has always been an ever-evolving landscape with technological advancements, treatments, and diagnoses. But the workforce behind these advancements also plays a crucial role in shaping the medical industry. Over the years, different generations have contributed unique work habits and values, impacting how doctors practice medicine. In this article, we will explore the work habits of Baby Boomers, Generation X, and Millennials and discuss how these generational differences …
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In this episode, we discuss the important factors that physicians need to consider when reviewing their employment contracts with guest Dennis Hursh, a physician contract attorney. From compensation to benefits, we dive into the details of what …
It is no longer news that Silicon Valley Bank has collapsed like a pack of cards. Quite unsettling is also the uncanny way the whole enterprise unraveled like a Ponzi scheme. Faced with uncertainty and a crisis of confidence, investors went on a withdrawal binge. But how does the crash of a bank for tech startups in Santa Clara, California, that caters to extremely high net worth individuals concern an …
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In this episode, we have Dennis Hursh, a physician contract lawyer, sharing his experiences in dealing with hospitals and their tendency to condescend towards physicians and their lawyers, also known as “hospitalsplaining.” He discusses a recent example …
A letter of intent (sometimes called a “term sheet”) can be useful for physicians and those who recruit them. The purpose of letters of intent in physician contracts is simply to ensure that both parties are “on the same page” as far as the major terms of the agreement they hope to enter. For example, if you expect to be paid $300,000 a year, but the employer is expecting …
Physicians are frustrated, and rightfully so, by the number of individuals and companies that do not provide direct medical care to patients yet profit off our services. Salary suppression is one of the many reasons physicians are leaving traditional medicine and seeking alternative careers. Although physicians have seen an increase in pay over the past 20 years, it has not matched the inflation rate. For example, Medicare reimbursement lags over …
Are you tired of being an employed physician or working for a staffing agency? Are you tired of being one of their many minions? Are you indeed ready to be your own boss? Are you ready to make some serious money? If so, then it’s time you start your own locums agency!
Are you tired of the bureaucracy and lack of respect from administrators? Are you frustrated by the lack of …
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In this episode, we are joined by Robert Allan Bear, a physician and health care consultant, to explore the challenges of maintaining strong organizational cultures in health care systems. Robert delves into the impact of pre-pandemic stress …
It will come as no surprise to anyone reading my articles that hospitals can be extremely condescending to physicians. As a physician’s lawyer who spends his days reviewing and negotiating physician employment agreements, I am also frequently “treated” to this phenomenon.
My firm has coined the phrase “hospitalsplaining” to describe how hospitals routinely talk down to physicians and their lawyers. A recent example illustrates the problem nicely.
We were reviewing a …
Physicians caught in the tentacles of employment as a means of possibly earning higher incomes and, unfortunately, believing such a platform of medical practice is the panacea of satisfaction and reaching your medical practice expectations that permeate your retirement with regrets.
During my 14 years of clinical medical practice in various settings, including the military, HMOs, and as a hospitalist, my experiences disrupted my initial career plans and intensified my desire …
We all know that life has its ups and downs.
And sometimes life gets really messy — and there are days and times that really suck! (No toxic positivity here.)
But we’re all just trying our best with what we have at that moment in time. (Don’t forget to give yourself some credit!)
That being said, there are also some habits that you may be (unconsciously) doing that are making …
For the last century, no medical school in the U.S. has ever offered or provided business education to any medical students. Check it out yourself. Then consider, that over 95 percent of graduating physicians are business ignorant, after never being informed while in medical school about the substantial value that a business education provides to any physician, especially those in private medical practice. Why would that be?
That’s around 22,000 medical …
What is the purpose of a financial plan? I believe that it’s ultimately a plan for using your money as a tool to live out your best life. Financial plans done right are fantastic at accomplishing this. But unfortunately many plans are missing an essential component. I’m going to be sharing what this missing piece is, why it’s the most important component in actually improving your life, and then I’ll …
Affiliate marketing has grown in popularity, especially with physicians. Affiliate programs allow individuals to earn a commission by promoting products and services. It can be highly lucrative for those that have a large following. Physicians tend to follow a pack like a school of fish or a flock of birds. Thus, making it easy for some to prey on others by promoting their affiliate links for their own financial gains.
Individuals …
I recently saw an ophthalmologist for my worsening eyesight. The doctor came highly recommended and was credentialed as an MD and MBA. He founded his practice, which has grown to over a dozen practitioners. His website boasts how he works with the pharmaceutical industry to help develop and market new medications “that improve the standard of care.”
According to Open Payments data, the doctor has relationships with ten …
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